• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn
Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Service sector predicts Canadian drilling activity will fall even more in 2019

November 1, 20183:41 PM The Canadian Press0 Comments

Shale Gas Drilling in Northeast BC

CALGARY – The Petroleum Services Association of Canada is predicting more pain for the oil and gas sector next year.

It predicts a total of 6,600 wells will be drilled in Canada in 2019, down about five per cent from an expected 6,980 wells this year, adding that translates to a year-over-year decrease of up to $1.8 billion in capital spending by exploration and production companies.

Outgoing association chief executive Tom Whalen says the oilfield services sector in Canada is headed for a third year of stalled activity as export pipeline capacity constraints keep petroleum prices low.

It forecasts an average Western Canadian Select price discount to New York-traded West Texas Intermediate of US$24.50 per barrel next year, about US$10 above typical differences.

The forecast calls for activity to gradually ramp up during 2019 as crude-by-rail volumes rise to allow more barrels to get to market.

PSAC announced Thursday that former Alberta cabinet minister and provincial trade representative Gary Mar will become its new president and CEO as of Dec. 1.

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Canada’s rig count at 183
  • Alberta premier wants direct compensation from U.S. if Keystone XL pipeline dead
  • U.S. drillers add oil and gas rigs for 9th week in a row
  • Trudeau, Biden to talk today as death of Keystone XL reverberates in Canada
  • Even without Keystone XL, U.S. set for record Canadian oil imports

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.